Growth in Iran's Copper Production

EghtesadOnline: Major Iranian copper complexes produced a total of 997,535 tons of copper concentrate during the 10 months to Jan. 20 to register an increase of 4% year-on-year.

News ID: ۷۴۶۷۱۱

17 February 2019

Sarcheshmeh Copper Complex was the biggest producer with 592,561 tons, up 5% YOY, followed by Sungun Complex with 277,060 tons, up 4% YOY, and Miduk with 127,914 tons, up 1% YOY, Iranian Mines and Mining Industries Development and Renovation Organization’s latest report shows.

Production in the month ending Jan. 20 was 103,475 tons, down 1% YOY.

Sarcheshmeh Copper Complex and Khatoon Abad Copper Refinery produced an aggregate of 257,833 tons of copper anode during the 10 months, up 68% YOY. Sarcheshmeh had the biggest share with 165,633 tons, up 161% YOY. Khatoon Abad produced 92,200 tons, up by 3% YOY, according to Financial Tribune.

Copper anode production during the tenth month stood at 29,153 tons, up 26% YOY.

Sarcheshmeh Copper Complex and Miduk Complex produced a total of 200,025 tons of copper cathode from March 21 to Jan. 20, up by 61% YOY. Again, Sarcheshmeh had the largest share with 123,248 tons while Miduk produced 76,777 tons.

Copper cathode output during the tenth month reached 21,030 tons, going up by 13% YOY.

A total of 5,832 tons of molybdenum were produced by Sarcheshmeh and Sungun (3,958 and 1,874 tons respectively) in the nine-month period, which indicates a 17% decrease compared with last year's corresponding period.

Molybdenum output during the month to Jan. 20 totaled 647 tons, down by 11% YOY.

Latest data published by IMIDRO show a total of 256,449 tons of copper and downstream products worth about $642.9 million were exported from Iran during the nine months to Dec. 21 to register a 55% decline in tonnage and 8% increase in value.

Imports of copper and downstream products stood at 1,609 tons worth $14.7 million during the same nine-month period.

Established in 1972, Sarcheshmeh Copper Complex operates the second largest copper deposit worldwide. The open-cast mine located in Kerman Province was first established by the American Anaconda Group until the 1979 Islamic Revolution in Iran, which led to the nationalization of assets and establishment of National Iranian Copper Industries Company. NICICO is now the leading copper producer in the Middle East and North Africa region, as it holds close to 14% of Asia’s copper deposits and about 3% of global reserves. The company operates several other copper mines in the country.

Sarcheshmeh Copper Complex is planning to boost its copper concentrate output capacity from the current 600,000 tons to over 1 million tons by 2022.

Iran is home to 68 types of minerals with more than 37 billion tons of proven reserves and 57 billion tons of potential reserves. According to the United States Geological Survey, Iran holds the world's largest zinc, ninth largest copper, 10th largest iron ore, fifth largest gypsum and barite and 10th largest uranium reserves.

Iran is home to more than 7% of global mineral reserves.